Iridium Communications Inc (NASDAQ:IRDM) Given Consensus Rating of "Moderate Buy" by Brokerages

Iridium Communications Inc (NASDAQ:IRDM - Get Free Report) has earned an average recommendation of "Moderate Buy" from the five research firms that are currently covering the company, MarketBeat reports. One equities research analyst has rated the stock with a hold recommendation and four have issued a buy recommendation on the company. The average 12 month price objective among brokers that have updated their coverage on the stock in the last year is $34.25.

Several research analysts recently weighed in on IRDM shares. Wall Street Zen cut shares of Iridium Communications from a "buy" rating to a "hold" rating in a research report on Thursday, May 1st. BWS Financial decreased their price target on Iridium Communications from $30.00 to $25.00 and set a "neutral" rating on the stock in a report on Wednesday, April 23rd. Oppenheimer began coverage on Iridium Communications in a research report on Monday, May 5th. They issued an "outperform" rating and a $34.00 price objective for the company. Finally, William Blair upgraded shares of Iridium Communications from a "market perform" rating to an "outperform" rating in a research report on Tuesday, April 22nd.

Iridium Communications Stock Down 0.1%

IRDM traded down $0.03 on Friday, reaching $32.08. 1,403,165 shares of the company traded hands, compared to its average volume of 1,188,430. The company has a market cap of $3.47 billion, a price-to-earnings ratio of 30.26, a PEG ratio of 1.08 and a beta of 0.79. The company has a debt-to-equity ratio of 3.43, a current ratio of 1.99 and a quick ratio of 1.36. The stock's 50 day moving average price is $28.49 and its 200-day moving average price is $27.98. Iridium Communications has a 52-week low of $19.91 and a 52-week high of $35.85.

Iridium Communications (NASDAQ:IRDM - Get Free Report) last posted its earnings results on Tuesday, April 22nd. The technology company reported $0.27 EPS for the quarter, topping the consensus estimate of $0.22 by $0.05. The company had revenue of $214.88 million during the quarter, compared to the consensus estimate of $211.78 million. Iridium Communications had a net margin of 14.68% and a return on equity of 19.41%. During the same period in the previous year, the firm posted $0.17 earnings per share. On average, sell-side analysts expect that Iridium Communications will post 0.89 EPS for the current fiscal year.

Iridium Communications Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, June 30th. Shareholders of record on Friday, June 13th were paid a dividend of $0.14 per share. The ex-dividend date of this dividend was Friday, June 13th. This represents a $0.56 dividend on an annualized basis and a dividend yield of 1.75%. Iridium Communications's payout ratio is presently 52.83%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Proficio Capital Partners LLC acquired a new position in Iridium Communications during the fourth quarter worth $408,000. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in shares of Iridium Communications by 12.1% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 31,064 shares of the technology company's stock worth $901,000 after acquiring an additional 3,350 shares during the last quarter. Commonwealth Equity Services LLC lifted its position in Iridium Communications by 4.0% in the 4th quarter. Commonwealth Equity Services LLC now owns 19,060 shares of the technology company's stock valued at $553,000 after acquiring an additional 729 shares in the last quarter. Intech Investment Management LLC boosted its stake in Iridium Communications by 498.5% during the 4th quarter. Intech Investment Management LLC now owns 66,142 shares of the technology company's stock valued at $1,919,000 after purchasing an additional 55,091 shares during the last quarter. Finally, Teacher Retirement System of Texas increased its holdings in Iridium Communications by 369.5% during the 4th quarter. Teacher Retirement System of Texas now owns 69,562 shares of the technology company's stock worth $2,019,000 after purchasing an additional 54,747 shares in the last quarter. 84.36% of the stock is owned by institutional investors and hedge funds.

Iridium Communications Company Profile

Iridium Communications Inc provides mobile voice and data communications services and products to businesses, the United States and international governments, non-governmental organizations, and consumers worldwide. The company offers postpaid mobile voice and data satellite communications; prepaid mobile voice satellite communications; push-to-talk; broadband data; and Internet of Things (IoT) services.